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Chapter 43: Growth Models
Growth models represent similarities between growth in nature and growth in economy. They are widely used in quantitative research in order to understand the forces that influence growth in the sense of its dynamics, and market capacities as well as forecasting of future in growth. In diffusion of innovation and new technology, market adoption of consumer durables and subscription services, as well as allocations of restricted resources have S-shaped (sigmoidal) growth. In the rest of the entry, products/services not including repeat sales are denoted as products and cumulative volume of market adopted products by users as number of users.
In general, during its life cycle, after the design phase, every product passes through the following phases – introduction, growth, maturity and ...